Nicola Wealth Management LTD. Acquires 59,300 Shares of Canadian National Railway (NYSE:CNI)

Nicola Wealth Management LTD. grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 44.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 192,500 shares of the transportation company’s stock after purchasing an additional 59,300 shares during the period. Canadian National Railway makes up about 2.1% of Nicola Wealth Management LTD.’s portfolio, making the stock its 13th biggest position. Nicola Wealth Management LTD.’s holdings in Canadian National Railway were worth $22,551,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its position in Canadian National Railway by 92.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after acquiring an additional 2,163,820 shares during the last quarter. Capital International Investors increased its position in Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after acquiring an additional 1,379,976 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Canadian National Railway by 4,614.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after purchasing an additional 1,307,689 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Canadian National Railway in the second quarter valued at $134,096,000. Finally, 1832 Asset Management L.P. raised its position in Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after purchasing an additional 674,536 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Down 0.6 %

Canadian National Railway stock traded down $0.66 during midday trading on Thursday, hitting $110.73. 108,437 shares of the stock were exchanged, compared to its average volume of 1,111,337. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $69.63 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Canadian National Railway has a 52-week low of $107.54 and a 52-week high of $134.02. The business’s 50-day moving average price is $114.31 and its 200-day moving average price is $117.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. Canadian National Railway’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. On average, research analysts expect that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

Analyst Ratings Changes

CNI has been the subject of a number of analyst reports. Susquehanna lowered their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group cut their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Barclays increased their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.